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HB 999 - Teachers Retirement; membership; amend provisions

Cummings, Bill (27th)	Shanahan, Tom E (10th)	Coleman, Jr., Brooks P (80th)

Status Summary	HC:	Ret	SC:	Ret	FR:	03/16/99	LA:	05/01/00	Signed by Governor

First Reader Summary

A BILL to amend Title 47 of the Official Code of Georgia Annotated, relating to public retirement systems, so as to provide that certain persons may not become members of the Teachers Retirement System of Georgia in a certain manner on or after a certain date; to define certain terms; to provide that certain public school employees may elect to become members of such retirement system; and for other purposes.

HB 999                                            LC 21 5608S 
 
               ______________________________ offers the following 
      substitute to HB 999: 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Title 47 of the Official Code of Georgia Annotated, 
  1- 2  relating to retirement and pensions, so as to provide that 
  1- 3  any person who was a vested member of the Teachers 
  1- 4  Retirement System of Georgia who became employed in a 
  1- 5  position covered by the Employees' Retirement System of 
  1- 6  Georgia shall have a certain time to elect to remain a 
  1- 7  member of the Teachers Retirement System of Georgia; to 
  1- 8  provide that any person who was a vested member of the 
  1- 9  Employees' Retirement System of Georgia who became employed 
  1-10  in a position covered by the Teachers Retirement System of 
  1-11  Georgia shall have a certain time to elect to remain a 
  1-12  member of the Employees' Retirement System of Georgia; to 
  1-13  provide conditions for an effective date and automatic 
  1-14  repeal; to repeal conflicting laws; and for other purposes. 
 
  1-15       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1-16                           SECTION 1. 
 
  1-17  Title 47 of the Official Code of Georgia Annotated, relating 
  1-18  to retirement and pensions, is amended by striking in its 
  1-19  entirety paragraph (4) of subsection (c) of Code Section 
  1-20  47-2-181, relating to the transfer of service credits and 
  1-21  accumulated contributions from the Teachers Retirement 
  1-22  System of Georgia to the Employees' Retirement System of 
  1-23  Georgia, and inserting in lieu thereof the following: 
 
  1-24      "(4) This subsection shall be applicable to each person 
  1-25      who was a member of this retirement system on January 1, 
  1-26      1997, and to all persons who become a member on or after 
  1-27      such date. Any person subject to this subsection who 
  1-28      became a member of the Teachers Retirement System of 
  1-29      Georgia between January 1, 1997, and June 30, 1998, who 
  1-30      elects to remain a member of this retirement system 
  1-31      shall be governed by the provisions of subsection (a) of 
  1-32      this Code section relating to the transfer of service 
  1-33      credits and accumulated contributions. Any person 
  1-34      eligible to make the election provided for in this 
  1-35      subsection shall do so in writing to the board of 
 
 
                                 -1- 
 
 
 
  2- 1      trustees not later than September 30, 1998 2000, or 
  2- 2      within 60 days after the person became an employee of an 
  2- 3      employer, whichever date is later. Once made, the 
  2- 4      election is irrevocable." 
 
  2- 5                           SECTION 2. 
 
  2- 6  Said title, is further amended by striking in its entirety 
  2- 7  paragraph (5) of subsection (b) of Code Section 47-3-81, 
  2- 8  relating to the transfer of service credits and accumulated 
  2- 9  contributions from the Employees' Retirement System of 
  2-10  Georgia to the Teachers Retirement System of Georgia, and 
  2-11  inserting in lieu thereof the following: 
 
  2-12      "(5) Any person eligible to make the election provided 
  2-13      for in this subsection shall do so in writing to the 
  2-14      board of trustees not later than September 30, 1998 
  2-15      2000, or within 60 days after the person became a 
  2-16      teacher, whichever date is later.  Once made, the 
  2-17      election shall be irrevocable." 
 
  2-18                           SECTION 3. 
 
  2-19  This Act shall become effective on July 1, 2000, only if it 
  2-20  is determined to have been concurrently funded as provided 
  2-21  in Chapter 20 of Title 47 of the Official Code of Georgia 
  2-22  Annotated, the "Public Retirement Systems Standards Law"; 
  2-23  otherwise, this Act shall not become effective and shall be 
  2-24  automatically repealed in its entirety on July 1, 2000, as 
  2-25  required by subsection (a) of Code Section 47-20-50. 
 
  2-26                           SECTION 4. 
 
  2-27  All laws and parts of laws in conflict with this Act are 
  2-28  repealed. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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